Filing Flows › National Vision Holdings (EYE) › Q1 2026 › vs Q4 2025
National Vision Holdings (EYE) Q1 2026 vs Q4 2025 (quarter over quarter)
National Vision Holdings's revenue rose $40.5M (+8%) from $503M in Q4 2025 to $544M in Q1 2026. The biggest changes: Products +$35.7M (+9%); Services and plans +$4.7M (+5%). Operating margin 8.3% against 1.3% (+7.0 pts).
National Vision Holdings, Q1 2026: revenue $544M (+7% year over year), operating margin 8.3%, net earnings $31.2M, operating cash flow $61.7M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 8.3% | 1.3% | +7.0 pts |
| Net margin | 5.7% | 0.7% | +5.1 pts |
| Free cash flow margin | 8.1% | -2.2% | +10.3 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Products | $440M | $404M | $35.7M | +9% |
| Services and plans | $104M | $99.7M | $4.7M | +5% |
| Revenue | $544M | $503M | $40.5M | +8% |
| Operating profit | $45.2M | $6.6M | $38.6M | +582% |
| Costs & expenses | $499M | $497M | $1.9M | +0.4% |
| Pre-tax earnings | $42.4M | $2.4M | $40.0M | 18× |
| Other expense, net | $2.8M | $4.2M | −$1.4M | -33% |
| Cost of revenue | $219M | $211M | $8.4M | +4% |
| SG&A | $256M | $261M | −$5.1M | -2% |
| Other operating costs | $23.4M | $24.9M | −$1.4M | -6% |
| Net earnings | $31.2M | $3.3M | $27.9M | +840% |
| Income tax | $11.2M | −$929K | $12.1M | — |
| Depreciation & amortization | $23.4M | $23.5M | −$26K | -0.1% |
| Share-based compensation | $7.0M | $5.8M | $1.2M | +20% |
| Working capital & other | $60K | −$19.5M | $19.5M | — |
| Operating cash flow | $61.7M | $13.2M | $48.5M | +369% |
| Free cash flow (OCF − capex) | $44.1M | −$11.2M | $55.4M | — |
| Capital expenditures | $17.6M | $24.4M | −$6.8M | -28% |
Questions
How much did National Vision Holdings's revenue grow quarter over quarter in Q1 2026?
National Vision Holdings's revenue rose $40.5M (+8%) from $503M in Q4 2025 to $544M in Q1 2026.
What drove National Vision Holdings's revenue change in Q1 2026?
Products +$35.7M (+9%); Services and plans +$4.7M (+5%).